Lockheed Martin has been awarded a $59 billion contract by the US Department of Defense to significantly expand the production of its Patriot air defense systems.
The multi-year agreement mandates the defense contractor to triple its current output of Patriot missiles by 2030, marking one of the largest industrial mobilization efforts in recent US defense history.
The deal follows a separate multi-year contract to increase production of Terminal High Altitude Area Defense (THAAD) interceptors, reflecting a broader acceleration in US missile manufacturing capabilities under the current administration.
This expansion aims to replenish stockpiles depleted by recent global conflicts and ensure sufficient capacity for allied nations seeking enhanced air defense coverage.
For Lockheed Martin, the contract provides substantial revenue visibility and reinforces its dominance in the air and missile defense sector.
The company has previously announced the development of a new, lower-cost interceptor missile for the Patriot system, a move designed to improve affordability while maintaining high performance.